When looking for a jurisdiction in which to incorporate, the first thing to look at is the legal code. The body of law in Vietnam is civil law law. You will want to get some local advice as to how to best structure a company in Vietnam. E-signatures are allowed.
The letters VN is for Vietnam and the most common company structure in Vietnam is a LLC - (Wholly Foreign Owned).
You should expect a wait time of 12 Weeks to incorporate a LLC - (Wholly Foreign Owned) in VN. The minimum share cap is 0, This means you don't have any minimum share capital. The types of consideration you can use to fund your company is frequently any legal tender.
Yes, one is allowed to re-domicile a LLC - (Wholly Foreign Owned) from VN. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC - (Wholly Foreign Owned) in VN by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is tolerated, up to 49% of the total equity of the company.
A company is only required to have 1 director on the board. Furthermore, corporate directors are permitted. Directors should not have an expectation of privacy, as they are not kept private in Vietnam. There is a requirement to have annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for an address which can receive a service of process on behalf of the registered legal entity. Moreover, a corporate secretary is not required in VN, which can save the company money if you can perform basic corporate governance internally.
There is a legal obligation to file accounts on a yearly basis. Consequently, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Vietnam, Agency of Business Registration. Shareholders are disclosed in the Agency of Business Registration.
Typically companies take 12 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Vietnam is a good option and have given it a score of 81 as an IO score, using the Incorporations.IO proprietary formula.
12 Weeks to form